(BRK.A), (BRK.B)
Berkshire Hathaway-backed BYD is aiming for rapid expansion of its retail stores across Brazil, as it boosts its sales of automobiles in the country and partners with Santander Bank to offer customers auto financing.
Currently, BYD has nine stores in the Brazilian market. Its local presence is projected to reach 45 cities by the end of 2022 and reach 100 locations by the end of 2023.
Besides vehicles, BYD Brazil also offers customers overall new energy solutions, which include the generation of clean energy by photovoltaic modules manufactured by BYD.
BYD Brazil has signed a strategic partnership with Santander Bank, the leading bank in automotive financing in Brazil. This will furnish one-stop auto financing services for the customers, from credit analysis, and credit approval, to payment options through a fully digital platform. Also, the partnership will benefit the local dealers to manage and grow their business of electric passenger vehicles.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.